Weight Watchers Stock Plummets and Oprah Loses $27 Million

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Weight Watchers Stock Plummets and Oprah Loses $27 Million –

CNN Money reports that shares of Weight Watchers dropped 30% on Friday after the lifestyle brand announced a quarterly loss of $11 million. Winfrey’s stake fell by $27 million on Friday as a side effect.   The company’s latest results may be a sign that not even Oprah’s considerable celebrity star power is enough to offset its challenges.

Winfrey signed on as the face of Weight Watchers last October when she acquired a 10% stake in the company, joined its board and became a member herself.

 Weight Watchers stock is currently trading almost 60% below the peak it hit in November.  So far,  the stock is down 50% for the year, with membership and meeting attendance slipping as well.
Weight Watchers faces competition from Jenny Craig and Nutri System as well as contending with  free smartphone apps that give people diet tips and track weight loss.

Source: EURweb

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